Argumentation And Debate Fall Midterm : Minimum Wage And Magical Thinking Opinion

Argumentation And Debate Fall Midterm : Minimum Wage And Magical Thinking Opinion

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Argumentation and Debate Fall Midterm:
Minimum Wage and Magical Thinking Opinion
In the reading of Minimum wage and magical thinking he discusses that raising the minimum wage would have a negative impact and would actually hurt those that it is supposed to help and I would agree. Raising the minimum wage would cause inflation to rise, thus basically canceling out what it was intended to do and making the US dollar worth less. Secondly, minimum wage increase would cause the price of goods to rise and then less people will be buying so, then you are paying employees more and making less revenue. Lastly, this would hurt the very people that raising the minimum wage is intended to help because the number of jobs that are entry level or low skilled will drop and then people who were making a 7.25 minimum wage will now be earning a 0 dollar wage. Minimum wage does not need to increase, especially not as drastic as some people are calling for and the positive outcome that is thought it would produce actually would be doing more harm than good.
If the minimum wage were to rise inflation in turn would rise too as Issac Newton said for every action there is an equal and opposite reaction. The general idea is to pay people more money, but not to increase the cost of goods which in a perfect world that may work, but this is the real world and that isn’t how it works. If for example, McDonalds starts paying their minimum wage employees 10.10 nationwide in turn what used to be a one dollar cheeseburger will now be a two or three dollar burger as that money you are paying employees has to come from somewhere. It will take extra revenue to compensate for the extra wages and raising prices will cause there to be less business meaning t...


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...help, but in the end hurt citizens in poverty. Instead of trying so hard to increase minimum wage people should be trying to better themselves into jobs that don 't pay minimum wage. Also, raising the minimum wage will cause people to have less drive to do better and find something more important than an entry level job. Some jobs do deserve more money but not jobs such as entry level fry cook jobs especially. People need more money but not by giving the minimum wage a boost but by staying determined and making money at better higher paying jobs. Something needs to be done as I previously stated however this is not the way to fix the problem of people living in poverty in the United States. As the article stated you can’t defy the law of demand and raising minimum wage would be doing this because the demand for employment is just the same as it is for any good.

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